First Citizens Bank & Trust Co. lowered its position in Stepan Co. (NYSE:SCL) by 6.5% during the second quarter, Holdings Channel reports. The firm owned 10,590 shares of the company’s stock after selling 733 shares during the period. First Citizens Bank & Trust Co.’s holdings in Stepan were worth $630,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. BlackRock Fund Advisors raised its stake in shares of Stepan by 0.6% in the first quarter. BlackRock Fund Advisors now owns 1,170,488 shares of the company’s stock worth $64,716,000 after buying an additional 6,952 shares during the period. BlackRock Institutional Trust Company N.A. raised its stake in shares of Stepan by 19.3% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 578,114 shares of the company’s stock valued at $31,964,000 after buying an additional 93,432 shares during the last quarter. AXA raised its stake in shares of Stepan by 12.5% in the first quarter. AXA now owns 47,200 shares of the company’s stock valued at $2,610,000 after buying an additional 5,260 shares during the last quarter. Bogle Investment Management L P DE purchased a new stake in shares of Stepan during the first quarter valued at about $347,000. Finally, Goldman Sachs Group Inc. raised its stake in shares of Stepan by 29.0% in the first quarter. Goldman Sachs Group Inc. now owns 72,203 shares of the company’s stock valued at $3,992,000 after buying an additional 16,247 shares during the last quarter. Institutional investors and hedge funds own 59.84% of the company’s stock.
Shares of Stepan Co. (NYSE:SCL) traded down 1.08% during trading on Friday, hitting $70.77. The stock had a trading volume of 113,211 shares. Stepan Co. has a 1-year low of $41.42 and a 1-year high of $74.25. The firm has a market capitalization of $1.58 billion, a P/E ratio of 17.38 and a beta of 1.17. The stock’s 50-day moving average price is $71.41 and its 200 day moving average price is $63.35.
Stepan (NYSE:SCL) last issued its earnings results on Wednesday, July 20th. The company reported $1.31 EPS for the quarter, beating the consensus estimate of $1.17 by $0.14. Stepan had a return on equity of 16.78% and a net margin of 5.29%. The business had revenue of $454.60 million for the quarter, compared to the consensus estimate of $453.45 million. During the same period last year, the business posted $0.91 EPS. The company’s revenue was up .5% compared to the same quarter last year. On average, analysts anticipate that Stepan Co. will post ($0.38) earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st were paid a dividend of $0.19 per share. The ex-dividend date was Monday, August 29th. This represents a $0.76 annualized dividend and a yield of 1.07%. Stepan’s dividend payout ratio is 18.67%.
Several analysts have issued reports on the company. Zacks Investment Research lowered Stepan from a “buy” rating to a “hold” rating in a research note on Wednesday, September 21st. Seaport Global Securities boosted their target price on Stepan from $66.00 to $70.00 and gave the company a “neutral” rating in a research note on Wednesday, August 24th. TD Securities lowered their target price on Stepan from $39.00 to $37.00 and set a “buy” rating on the stock in a research note on Friday, August 12th. Finally, National Bank Financial upgraded Stepan from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $32.00 to $37.00 in a research note on Monday, August 15th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $48.60.
In other Stepan news, VP Gregory Servatius sold 1,400 shares of the stock in a transaction on Wednesday, July 20th. The stock was sold at an average price of $62.86, for a total transaction of $88,004.00. Following the sale, the vice president now directly owns 24,731 shares in the company, valued at approximately $1,554,590.66. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO F Quinn Stepan, Jr. sold 32,000 shares of the stock in a transaction on Thursday, July 21st. The shares were sold at an average price of $63.46, for a total value of $2,030,720.00. Following the sale, the chief executive officer now owns 157,247 shares in the company, valued at $9,978,894.62. The disclosure for this sale can be found here. Company insiders own 14.40% of the company’s stock.
Stepan Company produces specialty and intermediate chemicals, which are sold to other manufacturers and used in a variety of end products. The Company has three segments: Surfactants, Polymers and Specialty Products. The Company’s Surfactants segment offers products, which are principal ingredients in consumer and industrial cleaning products, such as detergents for washing clothes, dishes, carpets, floors and walls, as well as shampoos and body washes.
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